Looking for an investment condo unit in Orlando, FL

Asked by investforfuture, Schaumburg, IL Wed Jul 13, 2011

Hello - I am looking to buy an investment condominium unit in Orlando, FL. My budget is $50K. One bed/One bath in a good area is what I am looking at. It could be a foreclosure or a normal sale. I do not want to buy in a crime stricken area. Can someone please help me locate the right area? Any expert advice is appreciated. I am willing to work with an agent on this. I do not live in Orlando area.

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7
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Fri Jul 15, 2011
What you will find is that the foreclosure section of all the major national search sites, including this one, are actually just court reporting services. The over welming majority of the notices on these services are lis pendens, which is step one in the forclosure process. These properties are not on the market and will not be for sale any time soon. The only thing they want you to do is get out your credit card and subscribe to their services.

if it's not on the MLS, it's not worth pixtels it's "printed" with. As of this moment there are 5606 properties active in Orange County (which includes Orlando). 715 are listed as condos and 188 are priced $50K or less. 99 are not short sales (short sales under $50K are a waste of time). 65 were built 1978 or later (pre 1978 means lead paint, disclosures to tenants, and lower rents/higher vacancy). I won't get into trashing neighborhoods or bankrupt complexes.

692? I don't think so. Sorry, but all you Canadians are being very much mislead as to what the market is really like here.
1 vote
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Wed Jul 13, 2011
I'm surprised you haven't gotten any responses after a few hours.

There are a couple million Canadians looking for pretty much the same thing in the US (and sometimes it seems like a quarter of them have contracted me) plus who know how many Americans. My point is that this is a very competitive market.

I've got an MLS search pre set up for such inquires for the area I cover which is pretty much the entire southern half of greater Orlando. Believe it or not when I plug in $50,000 as the max I only come up with 13 possibilties. There used to be hundreds.

Feel free to contact me directly and we'll see what's possible.
1 vote
investforfut…, Home Buyer, Schaumburg, IL
Sun Jul 17, 2011
I have just sent you an e-mail to jrodriguez@housestarrealtygroup.com. Thanks.
0 votes
Javier Rodri…, , Orlando, FL
Sun Jul 17, 2011
Hello!

Unfortunately I can say yes about your question because fair-housing laws prevent agents from talking about neighborhood demographics, and often we can't discuss other details, such as crime stats. However, I understand your concern and the best way is to contact Orlando City Police as this zip code falls under their jurisdiction.

If you can email me at jrodriguez@housestarrealtygroup.com your email, I will be more than happy to send you the most current information about properties in 32819. I personally like the area as it is close to Universal Studios, International Drive, The mall of Milennia and much more. Mark is correct about trying to find information in websites other than the Multiple Listing Service as these are tailored to "sell" zip codes to Realtors like us, but the data is not accurate and sometimes misleading.

Our company have over 300 properties under management and we check everything from credit, background and even have a repair crew.

Let me know at your earliest convenience.

Thanks for the feeback.

Javier Rodríguez
HouseStar Realty Group Inc.
Real Estate Broker
Lic: BK703443
Certified SFR Short Sale and Foreclosure Resource

: 407.429.5243 | Cell: 407.301.3401 | Fax: 407.373.0064 | eFax: 407.264.6260
: jrodriguez@housestarrealty.com
: Main Office: 1033 Semoran Blvd Suite 245 | Casselberry, FL | 32707 USA
: Branch Office: 13538 Village Park Suite 260 | Orlando, FL | 32837 USA
0 votes
investforfut…, Home Buyer, Schaumburg, IL
Sun Jul 17, 2011
Thanks for the info Javier.

I would like to consider properties in the 32819 zip code as this area is pretty close to all the attractions and transportation. Also, this is fairly crime free area. Please correct me if I am wrong. I am not local to Orlando, FL but intend to have an investment property that can be rented for a decent rent. I can definitely work with you if you can guide me in the right direction. Again, my budget is low and the maximum I can spend is 50K-60K. The condo should have reasonable amenities, at least 1 bed 1 bath, close to attractions and transportation and should be in a crime free area. I have been reviewing the listings on various websites and found a few properties in the 32819 zip code.
0 votes
Javier Rodri…, , Orlando, FL
Sun Jul 17, 2011
Hello!

I will have 2 new listings in Magnolia Court Condos and one of them is a 1/1. The list price will be $21,900. Property is currently tenant occupied so you migth be able to rent to tenant. The property address is 7658 FOREST CITY RD UNIT E ORLANDO, FL 32810.

I should have the listings by Wednesday this week.

Let me know if you are interested.

Javier Rodríguez
HouseStar Realty Group Inc.
Real Estate Broker
Lic: BK703443
Certified SFR Short Sale and Foreclosure Resource

: 407.429.5243 | Cell: 407.301.3401 | Fax: 407.373.0064 | eFax: 407.264.6260
: jrodriguez@housestarrealty.com
: Main Office: 1033 Semoran Blvd Suite 245 | Casselberry, FL | 32707 USA
: Branch Office: 13538 Village Park Suite 260 | Orlando, FL | 32837 USA
0 votes
investforfut…, Home Buyer, Schaumburg, IL
Wed Jul 13, 2011
Thanks Mark. I am surprised you could pull up 13 possibilities. I have been searching on http://www.homefinder.com through Orlando Sentinel and found 692 properties(1 bed 1 bath minimum and including foreclosures). Please correct me if I am wrong. I do not know what areas are good and what are bad. I read Orlando Sentinel everyday and concerned about the crime in some of the areas in Orlando. My point is to buy a condo which is in a good area with minimum amenities and could generate reasonable rental income. Please let me know your thoughts.
Web Reference:  http://www.homefinder.com/
0 votes
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